Buying a home is both a terrifying and exciting time. There are so many steps involved in the home buying process, and each step creates more questions. Here are ten of the most common home buying questions answered.

1.What's the first step of the home buying process? The mortgage pre-approval. Unless you are paying cash for a home, you will need to get a mortgage. To find out how much home you can afford, you need to get pre-approval for a loan. This is the first step in the home buying process.

2. How long does it take to buy a home? Typically, 30-45 days. This timeline can vary from person to person, but once an offer is accepted, it usually takes around 30 days to close.

3. What does a REALTOR® do? Everything! A REALTOR® is your most valuable asset in the home buying process. They will walk you through every step of the process and inform you of your options. They represent you and are your spokesperson throughout the experience.

4. How much do I have to pay a REALTOR® as a homebuyer? In most cases, nothing. Usually, the seller pays the fee, and then that listing agent pays the buyer's agent for bringing the buyer and facilitating the transaction.

5. What's your best advice for first time homebuyers? Trust the professionals. REALTORS® have sold a lot of properties and know what to look out for. Be confident and trust in their experience.

6. What kind of credit score do I need to buy a home? Usually 620+. Although some lenders will approve buyers with a lower score, a credit score of 620 or higher is recommended. Loan requirements are constantly changing, and your loan officer is the best source to give you today's requirements. The higher your credit score, the better your lending terms.

7. Are there special home buying programs that I should know about? Yes. There are a great number of home buying programs out there; some of the main ones to research are VA loans, USDA loans, and FHA loans. It is important to do your homework to know which is right for you.

8. How much money do I need for a down payment? It depends on your loan type and usually will range from 3-5%. Some loan types require no money down.

9. What other fees are there, besides the down payment? Loan origination and closing costs. Although the down payment is usually the largest cost for home buyers, lenders charge a loan origination fee which is a small percentage of the loan amount, usually 2-4%. Closing costs are fees paid at the time of closing. These closing fees can vary widely depending on where you live, the property you buy, and the type of loan you choose.

10. When do I get the keys? At the closing. Under normal circumstances, you get the keys when you close but make sure to coordinate your closing to get the keys the same day. Sometimes, if the closing takes place on a Friday evening, the loan may not be able to be funded until Monday.

Remember to have fun! Buying a home is an exciting time. For more information on the buying or selling process, visit our Buyer/Seller Info web page.

Lake Murray SC Real Estate - The Sallie Chester Team of Exit Real Estate Consultants​With an emphasis on real estate sales on Lake Murray and off-water properties in Lexington, SC and surrounding areas, Sallie Chester and her team of professional REALTORS® utilize EXIT’s cutting edge technology along with old-fashioned customer care to provide each client with exceptional service. Sallie lives on Lake Murray and with many years as a leader in the real estate industry, her clients value her knowledge, professionalism, and business experience.

Client Testimonials

What a positive experience working with Sallie to sell our lake home! She was kind, hard working, kept us informed, a problem solver and great person. I would highly recommend her!!L. Davis ~ Nov, 2018

We started looking around the Lake Murray area in October of 2017 with very little information about the area as far as neighborhoods went. We were referred by a friend to Sallie Chester after starting with another REALTOR. Sallie was very knowledgeable and knew the lake well. She was professional and absolutely one of the nicest people we’ve been around. After one year of looking, we found the perfect home for us; it was exactly what we wanted. Sallie was never pushy or impatient; she was willing to meet us anytime we needed, usually on a quick notice. What a blessing it was to find her! Thank you Sallie.Keith and Dawn B ~ Nov, 2018

“We enjoyed working with Sallie! She was fair and honest with us and really knows the area. She has a nice and professional attitude which made the process easy!”Dave and Tamara M ~ Nov, 2018

Sallie Chester helped us look for our perfect lake home on and off for four years. She would point out issues with homes that sometimes we did not notice. We never felt pressured by her to buy a home. When we finally found the home we wanted and issues arose, Sallie worked diligently to help resolve them. Whenever we had questions, Sallie was always available to answer them. If anyone asks for a reputable REALTOR, I would urge them to use Sallie Chester.Tricia and Tim G. ~August 2018

Sallie Chester was referred to us, by Carolina One Realty. She is a personable, hardworking REALTOR that shares her faith. Sallie is quite a negotiator with her clients needs in her heart.Burnette and Ken W. ~August 2018